Storage Industry Statistics

 

U.S. self-storage industry statistics

 

Largest self-storage operators (publicly traded) in the U.S. (by revenue)

  1. Public Storage: $2.56 billion (2016)
  2. Extra Space Storage: $991.87 million (2016)
  3. CubeSmart: $510 million (2016)
  4. Life Storage: $462.6 million (2016)
  5. U-Haul: $247.9 million (fiscal 2016 – self-storage revenue only)

Largest self-storage operators in the U.S. (by number of facilities, owned or managed)

  1. Public Storage: 2,348 (December 31, 2016)
  2. Extra Space Storage: 1,427 (December 31, 2016)
  3. U-Haul (AMERCO): 1,360 (as of March 31, 2016)
  4. CubeSmart: 791 (as of December 31, 2016)
  5. Life Storage: 659 (as of December 31, 2016)

Revenue in the U.S. self-storage industry

According to IBISworld, annual self-storage revenue was estimated to be $36 billion in 2016, and projected to rise to $37.5 billion in 2017.

Average storage unit cost

The national average cost for all unit sizes is $87.15 per month, according to SpareFoot data. (2016)

The national average cost per square foot is $0.97 per month. (2016)

Below is the average national cost by storage unit size.

5×10: $63.00 per month
10×10: $96.09 per month
5×5: $45.30 per month
10×20: $137.06 per month
10×15: $123.01 per month

Using our data we’ve found the average storage cost for more than 200 cities. Use the links below to find detailed storage data by state.

Average monthly construction spending on self-storage facilities

The chart below shows construction spending by month, according to the U.S. census bureau. Figures are not adjusted for inflation.

 

Number of self-storage facilities in the U.S.

44,061 (Union Realtime, 2018)

Amount of rentable self-storage space in the U.S.

1.635 billion square feet (Union Realtime, 2017)

Amount of self-storage space per capita in the U.S.

5.4 square feet per capita (Union Realtime, 2017)

Percentage of U.S. households that rent a self-storage unit

9.5% (2015)

Distribution of U.S. self-storage units by size (2015)

10×10: 23.1%
10×20: 20.6%
Other: 15.6%
10×15: 14.4%
5×10: 11.3%
10×30: 6.2%
10×25: 5.3%
5×5: 3.5%

Sources

Self Storage Association
IBISWorld
Seeking Alpha
Self-Storage Almanac
Inside Self-Storage

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